The Master Leasing Agreement serves as a foundational document for establishing comprehensive leasing arrangements in Hong Kong's commercial real estate market. It is particularly useful for businesses planning to lease multiple properties or maintain long-term leasing relationships with the same landlord. The agreement incorporates requirements specific to Hong Kong's legal framework, including compliance with the Landlord and Tenant (Consolidation) Ordinance, Stamp Duty Ordinance, and other relevant local legislation. This Master Leasing Agreement typically includes detailed provisions for property management, maintenance responsibilities, rental adjustments, and dispute resolution, while allowing flexibility to add specific properties through supplementary agreements or schedules. It's designed to streamline future leasing arrangements while ensuring consistent terms across multiple properties or lease periods.
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1. Parties: Identification of the lessor and lessee, including full legal names and addresses
2. Background: Context of the agreement and relationship between the parties
3. Definitions: Defined terms used throughout the agreement
4. Grant of Lease: Core provision establishing the lease and its basic terms
5. Term and Renewal: Duration of the lease and any renewal options
6. Rent and Payment Terms: Rental amount, payment schedule, and related financial obligations
7. Security Deposit: Amount, terms and conditions for the security deposit
8. Use of Premises: Permitted and prohibited uses of the leased property
9. Maintenance and Repairs: Responsibilities for property maintenance and repairs
10. Insurance and Liability: Required insurance coverage and allocation of risks
11. Default and Remedies: Events of default and available remedies
12. Assignment and Subletting: Rights and restrictions regarding transfer of lease rights
13. Termination: Circumstances and procedures for ending the lease
14. Notices: Communication requirements and contact details
15. Governing Law: Application of Hong Kong law and jurisdiction
16. General Provisions: Standard boilerplate clauses including severability, entire agreement, etc.
1. Property Management: For properties in multi-tenant buildings, detailing building management rules and obligations
2. Fit-out Works: Include when tenant improvements or modifications are permitted
3. Green Lease Provisions: Environmental and sustainability requirements, if applicable
4. Break Clause: Early termination options, if agreed between parties
5. Service Charge: For properties where additional service charges apply
6. Multiple Property Provisions: When the agreement covers multiple properties
7. Special Use Requirements: For properties with specific licensing or regulatory requirements
8. Option to Purchase: If tenant is given the option to purchase the property
9. Force Majeure: Detailed force majeure provisions beyond standard clauses, particularly relevant post-COVID
1. Property Details: Detailed description of the leased premises, including floor plans and measurements
2. Rent Schedule: Detailed breakdown of rent payments, including any escalation provisions
3. Condition Report: Documentation of property condition at commencement of lease
4. Building Rules and Regulations: Specific rules governing the use of the property and common areas
5. Maintenance Schedule: Detailed breakdown of maintenance responsibilities
6. Permitted Alterations: Specifications for allowed modifications to the premises
7. Service Level Agreement: Details of any services provided by the landlord
8. Insurance Requirements: Specific insurance coverage requirements and minimum amounts
9. Form of Bank Guarantee: Template for any required bank guarantee or security
10. Handback Conditions: Requirements for property condition upon lease termination
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